The BC Utilities Commission has accepted BC Hydro's Electricity Purchase Agreements with ten new renewable energy projects from its 2024 Call for Power. This decision confirms that these agreements are in the public interest and align with the Province's objectives under the Clean Energy Act.
The projects - nine wind farms and one solar installation - are expected to generate approximately 4,830 gigawatt hours of electricity annually. That is enough to power half a million new homes, increasing BC Hydro's supply by 8 per cent. The weighted average levelized price for these projects is $74 per megawatt hour (2024), which is about 45 per cent lower than the contracts awarded in BC Hydro's last call for clean power in 2010, after adjusting for inflation. This reflects BC Hydro's commitment to keeping electricity rates affordable.
Development and construction of these projects are projected to attract between $5 billion and $6 billion in private capital investment, creating up to 1,500 jobs annually during the construction phase across nearly every region of the province. All selected projects have significant First Nations ownership, with nearly all being majority-owned by First Nations, representing between $2.5 billion and $3 billion in First Nations asset ownership. This reflects BC Hydro's dedication to economic reconciliation and building strong partnerships with Indigenous communities.
Looking ahead, BC Hydro launched its 2025 Call for Power in July 2025, targeting an additional 5,000 gigawatt hours of clean electricity annually - enough to power another 500,000 homes. Combined with the 2024 Call for Power, these two initiatives will support electricity needs for up to one million new homes across B.C. First Nations participation remains a key priority: the 2025 Call for Power requires that eligible projects have a minimum of 25 per cent First Nations equity ownership, with opportunities for higher levels and additional benefits. Electricity purchase agreements for the 2025 Call for Power will be awarded in early 2026.
For more information on the calls for power, visit bchydro.com/2024callforpower and bchydro.com/callforpower.
